"SimDec is a revolution in decision-making support. SimDec "teases out" inherent cause-and-effect relationships and reveals the intricacy of relationships between sets of input and output variables. At its core, SimDec is an amalgamation of uncertainty and global sensitivity analysis with an...

What are the divers of business cycle synchronization within and between advanced and emerging economies at the sector level? This question is addressed by analysing international co-movements of value added growth in a multi-sector dynamic factor model. The model contains a world factor, region...

Forecasting crude oil prices is crucial for every individual and even the entire country. Previous studies have encountered difficulties in forecasting highly nonlinear crude oil prices, especially when conflicts, wars, and other irregular events occur. In light of this, this study proposes a...

This paper presents the theoretical foundations and dynamic properties of a dynamic stochastic general equilibrium (DSGE) model designed for quantitative policy analysis and counterfactual exercises. The approach of the paper can be summarized as follows. First, we present the model’s...

This paper analyses the concentration in the insurance sector and the impact of the market structure (distribution of market shares) and the number of insurance companies on the level of concentration (and competition) in the insurance sector in Serbia (excluding Kosovo and Metohija) in the...

Inflation and unemployment rate were largely disconnected between 2000 and 2019 in advanced economies. We decompose core inflation into two parts based on the cyclical sensitivity of CPI components and document several salient facts: (i) both the cyclical and non-cyclical parts had surges across...

In this paper I demonstrate, both theoretically and empirically, that the interpretation of regression estimates of between-group differences in economic outcomes depends on the relative sizes of subpopulations under study. When the disadvantaged group is small, regression estimates are similar...

We compare real wage differences between centralized and peripheral areas and highly centralized and peripheral areas using vast information of German administrative data that contains more than 2.8 Million individuals and 660,000 firms. We provide substantial empirical evidence that most of the...